S&P affirms Camargo Corrêa

Standard & Poor's said it affirmed its BB long-term corporate credit ratings on Camargo Corrêa SA and its subsidiary Camargo Correa Cimentos SA, as well as its brAA Brazilian national-scale rating on Camargo Corrêa Cimentos.

At the same time, the agency said it affirmed its ratings on the issuances either made or guaranteed by these two companies mentioned in the ratings list below.

The outlook is stable.

According to S&P, the ratings on Camargo Corrêa reflect the combined credit quality of Camargo Corrêa group's diverse business portfolio.

As such, they reflect the group's aggressive growth strategy based on organic capacity expansion and acquisitions, the significant gross financial leverage on some of its key subsidiaries resulting from M&A activities and exposure to volatile and competitive businesses, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.